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3 years ago
CORRECTED-CarMax revenue rises 9 percent on higher used car sales
April 4, 2014 / 11:16 AM / 3 years ago

CORRECTED-CarMax revenue rises 9 percent on higher used car sales

(Corrects paragraph 2 to add dropped word "to")

April 4 (Reuters) - CarMax Inc, the largest retailer of used cars in the United States, reported a 9 percent jump in quarterly revenue as easier availability of credit helped more Americans buy cars.

The company's revenue rose to $3.08 billion in the fourth quarter ended Feb. 28, from $2.83 billion a year earlier.

CarMax's net income fell to $99.2 million, or 44 cents per share, in the quarter, from $107.2 million, or 46 cents per share, a year earlier.

CarMax, which also sells new cars, said used cars sold in the quarter rose 12 percent to 132,856 vehicles. (Reporting By Abinaya Vijayaraghavan and Mridhula Raghavan in Bangalore)

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